Laurent Saint

Income Tax in Kenya

In Kenya, income tax is imposed on individuals and businesses based on income levels. Here are the key aspects of the income tax system in Kenya: Individual Income Tax Kenya uses a progressive tax system for individual income tax, meaning the tax rate increases with the level of income. As of the latest update, the […]

Capital Gains Tax

Capital Gains Tax (CGT) in Kenya is a tax levied on the profit realized from the sale of property or an investment. Here are the key points regarding Capital Gains Tax in Kenya: In summary, Capital Gains Tax in Kenya is a tax on the profit from the sale of capital assets, currently levied at

Tax Compliance Certificate

In Kenya, a Tax Compliance Certificate (TCC) is an official document issued by the Kenya Revenue Authority (KRA) that certifies that an individual or business is compliant with their tax obligations. Here are the key details about a TCC in Kenya: In summary, a Tax Compliance Certificate in Kenya is an essential document that confirms

Pay As You Earn(PAYE)

PAYE (Pay As You Earn) is a system for collecting income tax from employees’ salaries and wages. The employer deducts the tax directly from the employee’s salary or wage before paying them and then remits this tax to the tax authorities. Here are the key details about PAYE: In summary, PAYE is a system where

 Rental Income Tax 

Rental income tax is a tax imposed on income earned from renting out property. It applies to landlords or property owners who receive rental income from tenants. The tax is usually calculated based on the rental income earned during a specific period, after deducting allowable expenses related to the rental property. The tax rate and

Tax Benefits Related to Different Types of Loans in Kenya

In today’s dynamic financial landscape, loans have become an essential tool for individuals and businesses alike, facilitating growth, development, and financial stability. In Kenya, the significance of loans spans various sectors, including housing, education, business, and agriculture. As borrowers navigate through their financial journeys, understanding the tax implications and benefits associated with different types of

tax benefits

Payroll

A payroll is the process by which employers pay their employees for their work. It involves several key components and steps to ensure that employees receive their correct earnings, and that all legal and statutory obligations are met. Here’s a more detailed explanation: Key Components of Payroll Payroll Process

Complete Guide on Payroll in Kenya

Introduction Payroll management is a critical function for businesses to ensure employees are paid accurately and on time. In Kenya, payroll processes must comply with various statutory requirements to avoid legal issues and penalties. This guide provides a comprehensive overview of payroll in Kenya, including statutory requirements, payroll components, calculations, and compliance. 1. Statutory Requirements

Payroll

Finding the Right Loans App in Kenya for Your Financial Needs in 2024

In recent years, the financial landscape in Kenya has experienced a significant transformation, largely driven by the rapid adoption of mobile technology and digital financial services. Among the myriad of innovations, loans apps have emerged as a popular and convenient solution for individuals seeking quick and accessible financial assistance. These apps offer a range of

Loan Apps

T-pay

T-Pay in Kenya is an online platform provided by the Teachers Service Commission (TSC) to facilitate various services for teachers, including viewing and downloading payslips. This system simplifies the management of financial records for teachers and ensures that they can access necessary documents promptly and securely. Here’s a detailed overview of T-Pay and how to

Gross Pay vs. Net Pay: Definitions and Examples

Understanding the difference between gross pay and net pay is essential for both employers and employees. Gross pay and net pay represent two crucial concepts in compensation, but they are often confused. This essay will provide an exhaustive comparison between gross pay and net pay, including definitions, components, examples, and the significance of each. Definitions

Base salary

“Base salary,” also known as “base pay,” is the fixed amount of money paid to an employee by their employer in exchange for their work. This amount does not include additional compensation such as bonuses, overtime pay, benefits, or any other perks or allowances. The base salary is usually expressed as an annual figure, although

Basic Monthly Salary

The term “basic monthly salary” refers to the fixed amount of money that an employee receives from their employer each month before any additional earnings or deductions. This salary does not include bonuses, overtime pay, allowances, or other types of variable compensation. The basic monthly salary is the foundational component of an employee’s total compensation

Job Group K Salary in Kenyan Counties

In Kenya, Job Group K in the county governments has a basic salary that typically starts at KSh 38,270 per month. This figure can vary slightly depending on the specific county and any incremental raises over the years of service​. Allowances for Job Group K Other Benefits These figures are standardized across the country, aligning

Salaries and Remuneration Commission (SRC)

The Salaries and Remuneration Commission (SRC) is an independent constitutional commission established under Article 230 of the Constitution of Kenya, 2010. The SRC’s primary mandate is to set and review the salaries and benefits of all public officers, ensuring that remuneration is fair, equitable, and sustainable. The commission plays a critical role in maintaining a

Service Gratuity

Definition and Overview Service Gratuity is a lump sum payment made to an employee upon the termination of their employment, typically due to retirement, resignation, or redundancy. It is a form of financial reward for the services rendered by the employee during their tenure with the organization. Service gratuity is different from a pension, as

Pay As You Earn (PAYE)

Pay As You Earn (PAYE) is a method of income tax collection in which an employer deducts tax from an employee’s wages or salary at the time it is paid and remits it directly to the tax authorities. This system ensures that taxes are collected regularly and systematically as the employee earns income, rather than

how to pay salary advance loan

Navigating through the process of paying for a salary advance loan can be straightforward if you’re equipped with the right information. Whether it’s due to an unexpected expense or a temporary financial shortfall, a salary advance loan can provide much-needed relief. However, it’s crucial to approach repayment methodically to avoid any financial hiccups. Here’s how

A Scale of Salary

A scale of salary, often referred to as a salary scale or pay scale, is a structured system that determines the range of pay for a specific job or position within an organization. It is typically based on factors such as job role, experience, education, skills, and sometimes geographical location. Salary scales ensure that employees

Gross salary

Gross salary refers to the total amount of money an employee earns before any deductions are made. It includes basic salary, allowances, bonuses, and any other earnings. Gross salary does not account for taxes, social security, retirement contributions, or other deductions that might reduce the actual amount of money the employee takes home (net salary).

Current Salary

Current salary refers to the amount of money an employee is currently earning in their present job. It is typically used in the context of job applications, salary negotiations, and performance reviews. The current salary can encompass various components, including the basic salary, allowances, bonuses, and other financial benefits that an employee receives on a

Pay As You Earn (PAYE) in Kenya

Pay As You Earn (PAYE) is a method of tax collection on income earned by employees in Kenya. Administered by the Kenya Revenue Authority (KRA), PAYE is a key component of the country’s taxation system, ensuring that income tax is deducted from an employee’s salary or wages by their employer and remitted directly to the

pay as you earn (PAYE)

Basic Salary vs. Allowances: Understanding the Differences and Implications

In the realm of employment compensation, understanding the distinction between basic salary and allowances is crucial for both employers and employees. These two components play significant roles in determining the overall financial package an employee receives, influencing their financial planning, job satisfaction, and overall well-being. This essay delves into the definitions, differences, and implications of

Understanding Gross Salary in Kenya

Gross salary is a critical concept in the realm of employment compensation, representing the total income earned by an employee before any deductions are made. In Kenya, as in many other countries, understanding gross salary is essential for both employers and employees. This essay explores the meaning of gross salary, its calculation, and its implications,

Gross Salary

Understanding Net Salary in Kenya

Net salary is a critical concept in the world of employment compensation, representing the actual take-home pay that an employee receives after all deductions have been made. In Kenya, as in many other countries, understanding net salary is essential for both employees and employers. This essay explores the meaning of net salary, how it is

Net salary

The Integrated Payroll and Personnel Database (IPPD)

The Integrated Payroll and Personnel Database (IPPD) is a system used by the Kenyan government to manage payroll and human resource information for public sector employees. The IPPD system integrates various HR functions to streamline and enhance the efficiency of managing personnel data and payroll processes. Here are the key features and functions of the

The Government Human Resource Information System (GHRIS)

The Government Human Resource Information System (GHRIS) in Kenya is an online platform designed to streamline and manage human resource processes within the Kenyan public sector. It serves as a comprehensive system for automating various HR functions, thereby enhancing efficiency, transparency, and accountability in the management of public service employees’ data. Key Features and Functions

Steps to Obtain a P9 Form from GHRIS

A P9 form in Kenya is a tax document provided to employees, detailing their earnings and the taxes deducted within a given financial year. For government employees, accessing the P9 form through the Government Human Resource Information System (GHRIS) portal is a common process. Here’s a step-by-step guide on how to obtain your P9 form

Civil Servant Payslip

A civil servant payslip in Kenya typically includes various details that provide a comprehensive breakdown of the employee’s earnings, deductions, and other relevant information. Here’s a detailed look at what you can expect to find on a Kenyan civil servant’s payslip: Key Components of a Civil Servant Payslip in Kenya Example of a Civil Servant

Introduction to Interest Rates and Their Importance in the Economy

Interest rates are pivotal to the economic landscape, serving as the price of money and a key determinant of borrowing and lending decisions. They influence various economic variables, including consumption, investment, inflation, exchange rates, and overall economic growth. Central banks often adjust interest rates as a tool to achieve macroeconomic objectives such as price stability,

Interest rates

Race to Financial Freedom: 9 Habits to Get You There

Achieving financial freedom is a journey that requires discipline, commitment, and smart financial habits. Here are nine habits to help you reach financial freedom: 1. Set Clear Financial Goals Setting clear financial goals is the foundation of financial planning. It involves identifying specific objectives, such as saving for retirement, buying a home, or building an

Financial freedom

6 reasons why you should hire a professional financial planner

Navigating the complexities of personal finance can be daunting, particularly as financial landscapes evolve and individuals face increasingly diverse investment options and retirement considerations. In this intricate realm, a professional financial planner emerges as a beacon of expertise and guidance. Who is a Financial Planner? A financial planner is a trained and certified professional who

financial planner

Investment Opportunities in Kenyan market

In Kenya, there are several investment vehicles that you can consider to grow your wealth. Here are some popular options: Let’s look at each of the investment vehicles and how to approach each. Certainly! Let’s delve into the details of each investment vehicle available in Kenya, along with their advantages, disadvantages, expected returns, and how

Investment Opportunities

5 indicators you are deep in debt

Being in constant debt poses a multifaceted challenge that extends beyond financial strain, impacting emotional well-being, and future prospects. High-interest payments, reduced financial flexibility, and strained relationships characterize the financial aspect, while stress, anxiety, and depression mark the emotional toll. This might lead to long-term consequences including perpetuating a cycle of debt, limiting opportunities, and

deep in debt

3 types of M-Kopa cash loans and How to Get each one of them

In the ever-evolving landscape of financial services, M-Kopa cash loan stands out as a beacon of empowerment for millions across Africa. Founded in 2010, M-Kopa has revolutionized lending, offering accessible solutions to those traditionally underserved by conventional banking systems. As we step into 2024, M-Kopa continues to break new ground, providing more than just loans—it’s

M-Kopa Cash Loan

Why your loan repayment plan should be a priority in 2024

In a world dominated by debt, prioritizing loan repayments is crucial. It alleviates financial stress by boosting credit scores and enabling personal and professional growth. Managing loan payments efficiently helps achieve long-term goals like home ownership, entrepreneurship, and comfortable retirement. Additionally, a thorough repayment plan battles interest rates, prevents late fees, and fortifies against economic downturns, securing a stable financial future and empowering you as the ultimate financial superhero.

Loan repayment

Elevating the Classroom Experience with Canva: A Guide for TSC Teachers

In today’s digitally-driven educational landscape, the fusion of technology and teaching has become indispensable. Canva, renowned for its design prowess, has emerged as a transformative tool for educators. This article explores how TSC educators can strategically incorporate Canva in the classroom, with a focus on optimizing the teaching experience for both teachers and students. Canva:

Canva in kenyan classroom

Types of check-off loans

In Kenya, check-off loans are a type of loan provided by an employer to an employee, with the loan payments being deducted directly from the employee\’s salary. The employer acts as a facilitator of the loan, as they are responsible for deducting the loan payments from the employee\’s salary and forwarding the payments to the

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